Crypto Markets Are Off To The Races, Billionaire Says

An important billionaire just said that the crypto markets are off to the races. Check out the latest reports about this below.

Billionaire Chamath Palihapitiya said not too long ago that the markets are likely to witness more bursts to the upside following the recent comments of Fed Chairman Jerome Powell.

In a new All-In Podcast episode, the venture capitalist said that the statements made by Chairman Powell during the Federal Open Market Committee meeting last week indicated that the Federal Reserve is beginning to ease the pace of future rate hikes.

“In December, [Powell] was extremely hawkish and he was basically like, ‘Listen, we’re going to keep rates higher than you like and longer than you want. And he was pretty clear and the markets reacted.”

He continued and said this:

“And then not 35 [or] 40 days later, he essentially said we have two 25 basis point hikes left to go, and he’s going to try to stick the landing essentially.”

The same important analyst also mentioned the following:

“Even though the rest of the language in his entire speech and the press conference, if you read it in the absence of the his body language – so if you just read the transcript – would seem very hawkish as well. But the reality was he basically capitulated. And then the market essentially said, ‘Okay, we’re at the end of this thing.’”

A new forecast by Cathie Wood’s ARK Invest predicts that Bitcoin (BTC) will be able to reach a staggering multitrillion-dollar market.

The research paper, which is spreading through crypto Twitter after being shared by Bitcoin advocate DocumentingBTC, expands on Wood’s prediction. Just in case you don’t know it, it says that the crypto king will have a massive price tag of at least $1 million by the end of 2030.

The report lays out three scenarios that ARK believes the top crypto asset by market cap could follow. Check out our previous report below.